Reversing a trend for the last several weeks, Georgia gas prices moved up last week, according to AAA-The Auto Club Group.
The report issued Sunday night showed Georgia motorists are paying an average price of $2.42 per gallon for regular unleaded. Monday's state average is 4-cents more than a week ago, but 7-cents less than this time last month, and 30-cents less than this time last year.
It now costs $36.30 to fill a 15-gallon tank of gasoline. That is $6.30 less than what motorists paid in May of 2018, when pump prices hit their 2018 peak of $2.84 per gallon.
“Gas prices last week saw volatility due to fluctuation with gasoline stocks,” said Montrae Waiters, spokeswoman for AAA. “The fluctuation in stocks lead to slight increases at the pump this week, but only by a few cents.”
Gas Demand Rebounds and National Average Sees Slight Increase
In its latest petroleum status report, the Energy Information Administration (EIA) revealed that gas demand increased by 336,000 b/d to 9.8 million b/d. This latest rate is 158,000 b/d higher than the first week of September 2018, which is surprising as demand generally slows post-Labor Day. EIA’s data also showed that total domestic gasoline stocks fell by 700,000 bbl to 228.9 million bbl last week. Although demand rebounded to a level seen during a typical summer, cheap crude prices have helped to keep the national average mostly steady this week and 27 cents cheaper than a year ago. Since Monday, the national average for regular unleaded gasoline has increased by a penny to $2.57.
Regional Prices
- Most expensive Georgia metro markets –Atlanta ($2.48), Gainesville ($2.46), and Hinesville-Fort Stewart ($2.44).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.22), Warner Robins ($2.29) and Columbus ($2.30).
